profile picture

Call Craggs Appraisal Services, LTD to discuss appraisals on Champaign foreclosures

Craggs Appraisal Services, LTD is the company you should trust when you need appraisals for foreclosures in Champaign, Illinois

Homes that have reverted to the institution's ownership and homes in foreclosure bring forth particular appraisal difficulties.

When dealing with a house in foreclosure, you need to recognize market value versus a "quick disposition" price to evaluate your probable charge-off liability. Craggs Appraisal Services, LTD has the knowledge in both supplying snapshots of market value for our mortgage originating clients, in addition to "quick sale" forecasts that understand your pressing needs.

Craggs Appraisal Services, LTD has the experience to deal with the specific dynamics of a foreclosure appraisal. For a company you can count on, contact Craggs Appraisal Services, LTD.

Owners of homes in foreclosure, naturally, can present special challenges. They might be unwilling to allow the appraiser access to the house. Sometimes the houses show signs of vandalism, unfortunately at the hands of the former residents themselves. Or, it's common to find the families have moved out or the home neglected for extended periods of time.

For real estate that has returned to bank owned, you most likely will be going for an expeditious disposition. Regardless, you'll still want to consider three angles for looking at the value of the subject property:

  • As Repaired. Possible market value with the repairs necessary to make the home marketable at full market value - in accordance with similar houses in the neighborhood
  • As-is. The market value of the home without any work performed
  • Quick sale. With minor investment in repairs - to sell the property quickly, seemingly to someone who'd prefer to finish the job themselves
Again, we understand your timeline and the special circumstances of an REO property, in addition to the unique data you'll need - competing listings, market trends, and the like. You can rely on Craggs Appraisal Services, LTD to handle the appraisal of your bank owned property professionally and efficiently. Contact us today.